Former President Olusegun Obasanjo has described the comment of President Muhammadu Buhari against him that his administration wasted $16b on Power Project without nothing to show for it as “beer parlour gossips”.

In statement signed by Mr Akin Osuntokun, Director of Strategic Communications of the Coalition for Nigeria Movement which was recently convened by the former president, Obasanjo accused the President of propaganda aimed at demarketing his personality.

The former president was quoted to have said: “Is it not beneath the dignity of the exalted office he holds to join the chorus of beer parlour gossips?

“How can a president who has all the information at his beck and call degenerate to this level?”

Obasanjo also took the advantage of the statement to hint the public of the accurate figure involved in the contract.

He said :

“The Panel made up of so many actors including CBN officials then found out that only $3.7 billion was disbursed out of the $10 billion budgeted and the balance was kept in an escrow account at the CBN.

“The CBN confirmed this to the panel and it was published…It was then found out that Tanimu Yakubu then Economic Adviser to President Yar’Adua began the propaganda against former President Obasanjo and Engr. Somolu then with Yar’Adua wrote a secret memo inside the statehouse to correct the wrong notion about $10 billion.”

The former President said the comments by the President once again demonstrated that the President was “incompetent”

More to follow.